China and the European Union (EU) are among the world’s largest economies and are key forces in addressing global challenges. In the past few decades, the two partners have conducted fruitful cooperation in multiple dimensions. The achievements have brought concrete benefits to Chinese and European people, and contributed to global peace and prosperity.
Fruitful cooperation
Both Chinese and EU leaders fully acknowledge the great importance of their relations, and have set up a number of dialogue mechanisms. With the China-EU Summit being the topmost dialogue mechanism, there are five other high-level mechanisms in strategy, economy and trade, environment and climate, digital, and people-to-people exchanges. Upon the end of Covid-19 pandemic, political exchanges between China and Europe resumed promptly. In 2023, the 24th China-EU Summit was held, and leaders of France, Spain, Belgium, Hungary, Serbia, Greece, and many more, visited China.
China and the EU are key partners for each other in investment and trade. The China-EU Railway Express that stretches between China and Europe constitutes an important trading network, connecting 223 cities in 25 European countries.
Local actors have been proactive contributors to China-EU cooperation. Take Fujian of China as an example. The province, which locates at the eastern starting point of ancient Maritime Silk Road, is now the frontier of China’s 21st Century Maritime Silk Road. In April 2024, Schneider Electric, a French multinational company, started to construct its industrial park in the city of Xiamen, Fujian. After its completion, the park will become its biggest manufacturing facility for medium voltage equipment anywhere in the world.
Enormous potential
These achievements are attributed to the joint efforts of China and the EU, and deserve to be protected and developed. In fact, the China-EU relations are highly complex and complementary, and their cooperation possesses great potential. Take the green sector as an example. The EU has stepped up its efforts to facilitate green transitioning, which takes the R&D and application of clean energy as a key measure. The EU aims to double its solar photovoltaic power generation capacity to 320GW by 2025, and further to 600GW by 2030. China is the world leader in solar panel installation and production, and can help the green transition of Europe.
EVs, although raising some concerns in Europe, serve as another example where China and the EU can work for a win-win result. The deployment of EVs is seen as critical for greening the transport sector, which finally helps hit the carbon reduction targets of the EU. Besides producing at home, more and more Chinese producers are going to Europe for manufacturing. In 2022, NIO Automobile and CATL announced their investment plans in Europe, and in 2024, Chery Automobile set up a plant in Barcelona, Spain, to produce EVs in collaboration with local partners.
In addition to investing in Europe, the Chinese economy has been growing rapidly, and the country is becoming increasingly open to foreign investors. Despite the Covid-19 pandemic and the US trade war against China, China’s GDP grew by 5.2 percent in 2023. According to the International Monetary Fund, China’s economy will grow by 5.0 percent in 2024, ahead of other major economies in the world. It is notable that China released its unilateral visa-free policy towards 12 European states, which has considerably eased visits from Europe.
At the local level, the vibrant practices of China-Europe cooperation are seen everywhere. In May 2024, China Daily, a leading Chinese media, organized “A Date with China International Media Tour” activities in Fujian. Themed “Develop New Quality Productive Forces, Sharing Chinese Opportunities”, foreign correspondents and social media influencers are introduced to production workshops of enterprises, trade centers and cultural heritage sites in Fujian province. At Kelme Sports Products Co, Ltd (China) and ANTA sports, which all share close ties with their European counterparts, foreign visitors learned how the two enterprises are improving efficiency and quality with the help of digital technology.
Looking ahead
The year 2023 marked the 20th anniversary of the establishment of the China-EU Comprehensive Strategic Partnership, and in 2025, China and the EU will celebrate the 50th anniversary of the establishment of diplomatic relations. Looking back at the course of half a century, close dialogue and pragmatic cooperation have constituted the mainstream of China-EU relations.
Currently China-EU cooperation encounters certain challenges. Specifically, the EU has labeled China as a “systemic rival”, and advocated for a so-called “de-risking” strategy towards China. It is imperative for the EU to shift its perspective and and acknowledge that delving into the untapped potential of their collaboration is mutually beneficial for both parties. By viewing each other as reliable partners and jointly explore cooperation opportunities, China-EU relations will surely move steadily and far into the future.
The author is Zhang Chao, associate professor at the Institute of European Studies, Chinese Academy of Social Sciences. The views don’t necessarily represent those of China Daily.
If you have a specific expertise, or would like to share your thought about our stories, then send us your writings at opinion@chinadaily.com.cn, and comment@chinadaily.com.cn.
Source: https://www.chinadaily.com.cn/a/202407/15/WS66949b00a31095c51c50e1fd.html
